Fed Holds Rates, Highlights “Diminished” Uncertainties
As had been widely anticipated, the Federal Reserve left benchmark borrowing rates unchanged this afternoon, and officials delivered a finely-balanced message in the accompanying communications, suggesting that they intend to remain on the sidelines until a clearer picture of underlying economic conditions can emerge. The Federal Open Market Committee voted unanimously to maintain the target range for the federal funds rate between 4.25 to 4.50 percent, and in the statement setting out the decision, officials said “Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace. The...